9th Circ. Rejects Challenge To Bank Secrecy Rules

Law360 (March 13, 2018, 2:24 PM EDT) -- The Ninth Circuit on Monday affirmed an order requiring California Pacific Bank to comply with the Bank Secrecy Act, rejecting the bank’s arguments that the regulations are unconstitutionally vague and the Federal Deposit Insurance Corp.’s examination process was biased.

A unanimous three-judge panel found there is substantial evidence to support an administrative law judge’s finding that the bank did not maintain adequate internal controls and as a result failed to comply with BSA rules. The panel also held that the BSA regulations are not unconstitutionally vague,...
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